A Lifetime ISA, or ‘LISA’ as they’re regularly referred to, offers a similar deal to Help to Buy ISAs but with considerable differences which you should watch out for or take advantage of. Some people may be taking advantage of a LISA to save for later in life (over 60), however there are benefits of using a LISA to purchase a property as a first-time buyer. If you wish you can always keep your LISA after purchasing your first property and continue to save
Home Reports provide buyers, solicitors and mortgage lenders with a clear market valuation of residential property on the open market for sale and give detailed information on the condition of the property.
The onus is now with the seller of a property in Scotland, who wishes to sell their residential property on the open market, to provide a home report to any potential buyers. Failure to do so could result in you being fined up to £500.
A Home Report comprises three separate reports these
If you have undergone gender reassignment surgery, you will be dealing with an overwhelming number of changes and will be starting to create your new identity. To make things easier, the Registers of Scotland (ROS) will change your title deeds to reflect your new identity. They will not only change your name as owner, they will also change your name as borrower in respect of any securities registered over your title. Please note however you will also have to inform your security lender of the
Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax on the purchase of property in Scotland on the 1st April 2015. Since then there have been many updates, amendments and guidance notes issued. The purpose of this blog is to provide an update on the current threshold and tax banding for LBTT, the new First Time Buyers Relief and the increase to the Additional Dwelling Supplement (ADS).
LBTT Threshold and Banding
The threshold for paying LBTT on the purchase of residential